Culbertson A N & Co. Inc. Sells 4,597 Shares of Apple Inc. $AAPL

Culbertson A N & Co. Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,066 shares of the iPhone maker’s stock after selling 4,597 shares during the quarter. Apple accounts for about 5.7% of Culbertson A N & Co. Inc.’s portfolio, making the stock its 3rd largest position. Culbertson A N & Co. Inc.’s holdings in Apple were worth $37,355,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Ryan Investment Management Inc. bought a new position in Apple during the 2nd quarter worth $31,000. ROSS JOHNSON & Associates LLC grew its position in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares during the last quarter. Nexus Investment Management ULC increased its stake in shares of Apple by 333.3% in the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after buying an additional 200 shares during the period. LSV Asset Management bought a new position in shares of Apple during the fourth quarter worth about $65,000. Finally, Elite Financial Inc. bought a new position in shares of Apple during the first quarter worth about $58,000. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of several analyst reports. Argus set a $325.00 target price on Apple and gave the company a “buy” rating in a report on Friday, October 31st. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. JPMorgan Chase & Co. lifted their target price on shares of Apple from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Wells Fargo & Company set a $300.00 target price on shares of Apple and gave the company an “overweight” rating in a report on Friday, October 31st. Finally, Melius Research set a $345.00 price target on Apple in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.09.

Insider Activity

In other news, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 228,052 shares of company stock valued at $58,604,588. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 0.7%

NASDAQ:AAPL opened at $278.78 on Monday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $288.62. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $4.12 trillion, a price-to-earnings ratio of 37.32, a PEG ratio of 2.61 and a beta of 1.10. The firm has a fifty day simple moving average of $266.03 and a two-hundred day simple moving average of $234.48.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The company had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 26.92% and a return on equity of 164.05%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.64 EPS. Analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s dividend payout ratio (DPR) is 13.92%.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.